Well It Seems We have a Bailout

[Waitone]

http://www.breitbart.com/article.php?id=D93FJ1182&show_article=1
<snip>

The plan calls for the Treasury Department to buy deeply distressed mortgage-backed securities and other bad debts held by banks and other investors. The money should help troubled lenders make new loans and keep credit lines open. The government would later try to sell the discounted loan packages at the best possible price.

<snip>

If the US government has given a single source franchise to a European bank, why is it the US treasury is buying up bad assets.  Seems to me it is time for the franchise holder to fall on the sword; to take one for the team so to speak.

Other thing I noticed in the article is there is mention of a quick vote but no mention of publishing the agreement on the internet.  I do not trust these people.  I intend to tell my representative so.

[longeyes]

We have no reason to trust an unholy alliance of gov't and business that sees the U.S. Treasury as an ATM machine for the rich, stocked by the U.S. taxpayer.

I think this current crisis has major "Boston Tea Party" potential.

A lot of things are coming to a head in America.

[Bigjake]

Well, at least if they do approve the bailout I'll be able to take advantage of the "bump" it should give the Dow.  That'll make getting the hell out of stocks and cutting my losses much less painful.

This aint over yet, and no amount of Fed "rescue" is going to stave off the inevitable.

[BReilley]

You know, after hearing so many liberal complaints about government being in the pockets of big business... it strikes me a bit strange that this abomination is the solution offered by liberals.

[lupinus]

ugh.  This baffles me.

I can understand buying out failing banks so they can be sold off in managed and stable way rather then a firesale.

However, buying just the bad assets?  Thats insane.